Brewer AB InBev results underwhelm but merger on track

The world’s top brewer Anheuser-Busch InBev on Thursday posted underwhelming results for last year, as it closes in on completing a mega merger with rival SABMiller.

The Belgian-Brazilian brewer announced in November it would take over British SABMiller for $121 billion — the third largest acquisition in history — that would make it a juggernaut, brewing three times as much beer as its nearest rival.

The company hopes to complete the tie-up by the end of 2016 and said on Thursday it was on track to do so.